National Cooperative Bank (NCB), a leading financial services company dedicated to serving cooperatives and housing communities nationwide, announced that it has provided a $4.8 million construction loan to the Congregation of Benedictine Sisters of Boerne, Texas. The financing will be used for the construction of a new Monastery and administrative offices on the Sisters’ grounds. In February 2012 the Benedictine Sisters informally subdivided their 42-acre property and listed 14 acres for sale.  The new Monastery facilities will be built closer to the Sisters’ existing Boerne ministries and will provide prayer, meeting, and work spaces, as well as safe and adequate community and private living spaces. “We are proud that we were able to help the sisters meet their financial requirements as they move forward with this new facility to preserve their housing and spiritual needs,” said Bob Montanari, Senior Vice President of NCB. “Loans of this caliber are extremely important to organizations such as the Benedictine sisters; by developing this new facility, the sisters are able to age-in-place and continue their commitment to community and prayer.”  The Benedictine Sisters are monastic women committed to community and a life of work and prayer. Their Benedictine Spirituality is built upon timeless traditions and Gospel values. The Congregation of Benedictine Sisters is a 501(c) (3) non-profit corporation located in Boerne, Texas, a city approximately 32 miles northwest of San Antonio.  About National Cooperative Bank: National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook, or on Twitter @coopbanking.  




17 June 2015